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A Job Search’s Most Valuable Asset

September 8, 2010 by

It’s one of the most difficult perspectives you and I must adopt in job search: Time is your most valuable asset.

It sounds crazy, as it feels completely the opposite; given the long days you have during search.

Let me share a few observations about time, from my own search, and how not managing this valuable asset will impact the time you spend in search.

3 – 4 Hours: Time dedicated per ineffective networking meeting.  Add up the time for the following actions: Get the contact, set up the meeting, prepare to meet, travel to meeting, meeting, travel home and follow-up.

These hours were ineffective, when I allowed myself to ‘just’ network and not really have a good plan on how we could mutually benefit from meeting.  I know there is always the ‘wild card’ that the person will have a good connection, but generally this is not the case.   

15 – 20 Hours:  Time dedicated per chasing job opportunity where I had limited chance.   Time used: Researching the opportunity, preparing your submission, finding contacts in the company, preparing for the interview, travel to interview, interview(s), travel back home, and follow-up.

Before investing in time to pursue a role where you partially match the company’s needs, try to figure out if you have a realistic chance (use your network to help).   Due to connection, I made the final round on a couple roles, but from the start I had a limited chance.  Yet, I dedicated time as though I did, because I did not assess the opportunity due to have a good connection.

The ugly math:  Chasing three clunker networking meetings and a ‘poor fit’ role will cost you 24 – 32 hours of time that could be used toward finding a job.  The amount of time could be easily more, especially with interviews.

The simple solution:  Make a plan for every week (See Tools You Need - for “Organizing Your Search Week”) and then rate the value of each meeting (See “Daily Point System”).  Even if you don’t want to track points, use the tool to help you judge the value of a meeting.

Time is your primary investment during search.  Invest wisely.

Good luck this week.

Mark

Filed Under: General Tagged With: ,

The story of the foul-mouthed CFO – A lesson in sales

December 15, 2008 by

Over a six-month period, I heard multiple stories about a foul-mouthed CFO who openly dressed-down employees with language that would make a longshoreman wince.

With each telling of the story, the CFO’s behavior got more dramatic.  I could not help to think how this person’s name got dragged through the mud – because none of the people who told me the story worked at the company.

I soon began to wonder if this person could get hired again.  If I said to someone “I’ve been told this story about a CFO who swore at employees”, about 90% of the time, they would reply “Do you mean __________, at ___________”.  

I am not surprised a story like this spread so quickly.  Here’s what’s surprised me.  With the same volume, I heard stories coming out of networking meeting where the candidate was “forced out by their boss”, “needed a mental break”, “is only looking to move overseas”, etc.   Most often the statements were made by the candidate.

Remember, a search is like a sales process.  The product is you.  So be sure to present yourself in the best light by planning your networking meeting and being cautious with the statements you make.  

Unlike Vegas, what happens in a networking meeting does not stay in the networking meeting.

Filed Under: H. Watch Out - Curves Ahead Tagged With: , ,

Anatomy of a Networking Meeting

December 15, 2008 by

In the toolkit is an outline on how to run a networking meeting.   As I started my networking, I realized that I was too often trying to squeeze in giving or getting connections or trying to jam in a last few comments at the end (Tip: Once someone stands up, their receiver is turned to ‘off’).

Use this outline to help organize your meetings and adjust the timing or order based on your contact.  For example, if you are meeting a former colleague, you may not need to review your experience in detail – but use it for identifying possible connections.

Two recommendations:

·         On the order:  Keep the focus on your contact to start the meeting, so you set the tone that this is truly a networking meeting.   See “Practicing the 80% Rule”.

·         On taking notes: It’s all you – even if they take notes – record all the action items.

Filed Under: E. Meetings: Before, During & After Tagged With: ,

The Other Side of Table – What I Expect from Candidates**

December 15, 2008 by

Tim Tracey, Bernstein in Minneapolis, has been in transition so he repays the helps he got by actively networking with fellow candidates.  He also makes his living by networking to find clients.  He both understands and practices networking more than all of us.  Tim and I are co-writers for this post.  My thanks to Tim for sharing his experience – MJR.

When it comes to networking with candidates, Tim has experienced a wide range of styles and readiness.  Here are the five items that he recommends to make a meeting go well:

1.       Don’t force the meeting on your schedule.  If you have a tight schedule, then give the open times in your calendar when setting up the meeting.   Also, your contact will likely schedule a time that allows them to network – not before an important meeting where their attention will be elsewhere.

2.       Send a Resume or Marketing Plan in Advance.  Like yourself, your contact will like to do their pre-planning.   Put your LinkedIn profile URL in your e-mail and send your documents at least two days before the meeting.      

3.       Don’t Ask for a Job When it is NOT an interview.   This can lead to a quick end to the meeting as you force your contact into an uncomfortable position of saying “No”, especially when discussing a position was never part of the meeting’s purpose.

4.       Do Your Research.  An unprepared Candidate is pretty obvious and makes it very difficult to network with them.

5.       Have a clear and crisp Pitch.  Practice, practice, practice.  Remember you are selling yourself – so make the pitch powerful!

As a funny story using #3 and #4:  Just prior to our meeting, Tim has a networking meeting where the candidate first asked Tim if there was a job for them at Bernstein.   This was followed up by the candidate asking Tim what Berstein did.

Filed Under: E. Meetings: Before, During & After Tagged With: , ,

The Question that Ends a Meeting Quickly

December 15, 2008 by

“So tell me what your company does?”

When I get this one, I start thinking about what else I need to do today.  Why?  Despite having LinkedIn, ZoomInfo, Company websites, etc., it tells me that this person across the table has not even taken 5 minutes to do a simple search.

See the tool “10 Questions to Understand a Company” – whether your contact is a CEO, CFO, lawyer or banker – you can use these questions to understand what they do.

If you are meeting a service provider (lawyer, banker, etc.) most of them have extensive websites with explanation of services, biographies, etc.

Use your time for discussion to understand their background and clarify issues about the business.   The more you move beyond chit-chat, the more you connect and find out ways to make yourself memorable.

Filed Under: F. Getting Out There Tagged With: ,

Day before you meet someone

December 15, 2008 by

You rely upon people to book a meeting on their calendar, since you are generally not sending a meeting invite.   Therefore, the day (not evening) before, I’d recommend the following:

1.       Confirmation e-mail

o   Confirm meeting time and place

o   Provide your cell number

o   Specifically mention that you have attached your resume and marketing plan

2.       Prep any referrals/contacts that you can offer

o   People that you know that could help build this person’s business, enable their search, etc.

o   If you are tracking your contacts, take a glance through them to get ideas for good connections of value

Filed Under: I. Lessons from the Trail Tagged With: ,